Is the market top in???

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Another interesting fact - we have not seen an pre-announcements for upside surprises this quarter - means earnings may not be as strong as Wall Sreet thinks and with INTC and SNDK lowering their forecasts, we expect that semiconductor industry is entering a slump. Majority of the Q4 demand last year was driven by computer upgrade cycle and Iphone 6. 

Remember we talked about the three 6 factor - 6th year of bull market, Iphone 6 and the Samsung galaxy 6 - and the market bottoming at 666 in 2009.. Hmmm!!!! is the top in!! 

Take profits - Short SNDK.

UPDATED:


Check these support levels for ETF IBB: 13 week and 50 week SMA have been great support before. See the two circles.

Trucharts team